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The Connected Business of Insurance

The Business of Insurance is Changing

March 24, 2013

by Reid French
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cityscape_blog_imgThe business of insurance is changing with a technology convergence that is redefining the way our industry works. Data has become increasingly important throughout our industry. Consumers now expect greater access to insurance information. Agencies want cost-effective methods for analyzing customer data so they can both grow and retain their book of business. Carriers want insights on how to better market and sell insurance through the agency channel.

With change comes opportunity. While Applied remains true to delivering the industry’s leading agency management systems, we are expanding the breadth of our product line in order to fully automate the entire insurance life cycle – from the carrier to the agency to the insured. You’ll see us continue to improve the ability for agencies to connect electronically with their customers and enhance the electronic data exchange between carriers and agency management systems, creating greater value for our customers and our industry.

Yet, it’s more than software with us. Since Applied’s founding, our people and products have enabled our industry to safeguard and protect what matters most. This adds a higher purpose to what we do. We’re not only helping agencies, brokerages and carriers run their businesses – we’re also helping them fulfill the promises they make to their customers each and every day. It’s a worthy purpose – one that will always be a part of what we do.

As we look to the future of our industry, we embrace the change and opportunity ahead. Big things happen at the intersection of opportunity and innovation – big enough to change an industry. That’s where you will find Applied. For more than 30 years, we have led industry innovation that powers the business of insurance.
Let’s make big things happen together.

How do you think the business of insurance is changing? What opportunities do you see for innovation at your agency? Tell us in the comment section below and use the social buttons to “share” this post with your peers.

Reid FrenchReid French, Former Chief Executive Officer at Applied Systems, was responsible for the company’s overall business strategy and operational execution. He played a prominent role in developing and fostering relationships throughout the Applied community. French came to Applied in 2011, after serving as chief operating officer at Intergraph Corporation, a global company at the forefront of geospatial and computer-aided design software. Early in his career, he was a strategic planner for the Walt Disney Company, and he managed investment banking transactions in the technology sector for Robinson-Humphrey. French holds a bachelor’s degree in Economics from Davidson College and a master’s in Business Administration from the Harvard Business School. He sits on the board of directors for Applied, Autodesk (NASDAQ: ADSK) and The Lovett School in Atlanta.

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